In 2018, for the block chain and crypto currency industry is a year of ups and downs, as if the young industry in this year experienced a few years to some other industry boom and recession. It is undeniable that in addition to attract eyeballs, block chain and encryption currency of the two market segments have taken their own path of development, although the industry has been uneven in quality, but the encryption appeared hundreds of startups, they continue to explore and adjust the business model, trying to subvert the traditional industries.
For the upcoming 2019, encryption currency and block chain will certainly continue innovation trend, although not “fortune teller”, but does not prevent us open thinking predictions about the future development of the industry. Here, the daily planet (WeChat: o-daily) translation of the E27 report, which on 2019 and block the development of the industry chain encryption currency gives 5 forecast:
A prediction: more and more people will build their own business model in the block chain
In fact, over the past few years in the industry chain blocks of investment are not many, but this situation will change in 2019. Because of the block chain technology more and more potential influence on many traditional businesses, entrepreneurs and executives will try to build their own business model in the block chain. As one of the “big four” accounting firm PWC disclosed data show that most companies invest in technology capital chain block is usually less than $500 thousand, but this situation will soon change, 11% of the companies surveyed executives said willing to invest more than $10 million in block chain technology.
Block chain is not only a “constructive” technology, but also to improve the business processing speed and accuracy, simplify the operation process. So in the next few years, there will be more companies willing to throw money at the block chain of technological innovation “”. IDC is expected to 2020, global enterprises in the chain block on technology annual expenditure amount will reach $12 billion. More and more projects will be through the block chain to build a business model, and then have a snowball effect “”.
Forecast two: block chain will bring more useful practical passes
With the continuous development of digital communication card and penetration, “economics” has rapidly become the extension of a new economic model. In 2019 there will be many blockchain actual cases, these cases will be gradually formed a passes economic model based on its complexity and importance will also cause more attention.
Forecast three: application scope of encryption currency will further expand
Dr. Zeynep Gurguc of London Polytechnic University and the Chicago Mercantile Exchange, the International Department of senior managing director William Knottenbelt recently wrote an article entitled “encryption currency: trust and overcome the popular problem” (Cryptocurrencies: Overcoming Barriers to Trust and Adoption) study, which emphasized the fact that:
Digital currency has met one of the three standard legal tender: store of value.
In fact, the currency exchange media has undergone significant changes, from the real coins, bills to the bank card, so it is entirely possible to become a digital currency in the near future. Although most people still think based on the algorithm and consensus to exchange funds risk, volatility of encryption currency also exist, but the value from one person (P) (2) transferred to another person (P) ability is in fact a validated encryption currency actual cases. So now, we are more likely to need some patience, after all, Rome was not built in a day.
Here is an example of a typical example is the Japanese currency, bitcoin encryption in Japan and several other have been used as a legitimate means of payment acceptance. In Japan the country itself is keen to embrace the innovation of science and technology, so the blockchain technology has been warmly welcomed, and accept the encryption currency as a means of payment of this thing is not surprising in the local. In fact, in the global bitcoin trading, Japan turnover accounted for a large part of. Now, Japan’s financial services agency (FSA) has asked the encryption currency exchange the implementation of strict anti money laundering agreement, if the exchange strictly comply with the regulatory rules, the Japanese government will further encourage the application of encryption currency.
Forecast four: enterprises will seek legal contracts in the intelligent digital contract solution
In addition to the encryption currency, another important application of block chain technology is the “smart contract” (smart contract) – Terms and conditions to meet the relevant parties to reach a consensus, the intelligent contract will automatically execute. In 2019, the contract will be more intelligent enterprises welcome, it can not only the implementation of the management contract between the parties’ agreement, can also be extended to other aspects of contract law. For example, the contract parties can construct a complete binding legal digital contract, through the automatic execution of contract projects based on consensus, to solve the problems existing in traditional contract dispute.
Prediction: the government will allocate more resources and capital, ability to speed up the block chain project to solve practical problems
2019, worldwide, there will be more government attention caused by the block chain technology advantage and competitiveness. Although there are still many governments are skeptical of the block chain and encrypted currency application, but this situation will be further improved, especially as Malta, Switzerland, Estonia and some other European countries, they have begun to encrypt the currency and block chain should be used into the operation of government official.
Here a brief mention of Estonia, the government launched a number of projects to the center of the ledger in the X-Road block chain recorded all citizens and resident identity information data, now almost all of Estonia’s public services can access X-Road. The platform adopts many advanced encryption technology including two factor authentication, so that people can control their personal data and to ensure its safety.
Here, we briefly give 5 block chain and encryption currency industry forecast. In 2019, if you have other more valuable industry forecasts, may wish to star Jun (WeChat: o-daily) share.